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ResMed Inc.

RMD · NYSE

Market closed$198.99$-3.77 (-1.86%)After hours $198.99 · 0.00%

Key statistics

Previous close$202.76
Open$201.47
Day high$203.04
Day low$198.22
52-week high$293.81
52-week low$180.27
Market cap28.86B
Volume1.27M
Average volume1.56M
P/E ratio18.48
Forward P/E—
EPS10.77
Dividend yield+1.21%

Market context

Why it moved

ResMed shares declined as investors continue to weigh the stock's recent underperformance and uncertain near-term outlook, with the market still not fully crediting the company's Noctrix acquisition growth potential while the stock remains significantly below its recent peak amid mixed analyst sentiment.

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What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026ResMed declined as RBC Capital downgraded the stock to Sector Perform from Outperform, slashing its price target to $234 from $276 and citing headwinds in FY27—including device sales disruption from replacing its Astral ventilators, higher cost of goods, and component supply constraints. The downgrade adds to an already pressured narrative: despite ResMed's $340M acquisition of Noctrix Health (a higher-growth, higher-margin RLS device maker) and strong cash generation, the stock has shed roughly 30% from its recent peak as analysts weigh GLP-1 drug risks and returning competition from Philips. The broader healthcare sector ETF (XLV) also closed lower, compounding the weakness.

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July 17, 2026ResMed shares gained despite a wave of analyst downgrades, as a broader healthcare sector rally—fueled by UnitedHealth Group's strong Q2 earnings beat and raised guidance—lifted sentiment across medical device names. RBC Capital downgraded ResMed to Sector Perform from Outperform, cutting its price target to $234 from $276, citing FY27 headwinds including Astral ventilator replacement impacts, higher cost of goods, and supply constraints. This follows a similar Citigroup downgrade to Neutral last week with a $235 target, and Mizuho also trimming its target to $220 while maintaining Outperform. Despite the analyst caution, ResMed closed higher, outperforming the healthcare sector ETF (XLV).

2.1101

July 15, 2026ResMed closed up nearly 3% during the regular session, outperforming the broader healthcare sector (XLV essentially flat), though shares are pulling back roughly 2% in after-hours trading. The session's gains came amid a backdrop of mixed analyst sentiment: Mizuho maintained its Outperform rating but lowered its price target to $220 from $235, while Citigroup downgraded the stock to Neutral earlier this week, cutting its target to $235 from $270, citing concern over portfolio changes including the MatrixCare divestiture and GLP-1 headwinds. Despite the analyst pressure, ResMed's defensive profile in sleep and respiratory care, alongside UBS's upgrade of the broader healthcare sector as a key allocation target, helped support investor interest.

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July 15, 2026ResMed shares fell nearly 3% in above-average volume, underperforming both the broader market and the healthcare sector ETF (XLV), weighed down by a Citigroup downgrade to Neutral with a lowered price target of $235 and a separate Baird price target cut to $217. The analyst pressure comes amid sector-wide headwinds, including a challenging Q2 earnings backdrop for healthcare, geopolitical-driven inflation risks from Strait of Hormuz disruptions, and investor scrutiny over GLP-1 therapy impacts on sleep-device demand and the company's portfolio reshaping following its MatrixCare divestiture.

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July 14, 2026ResMed fell roughly 2.6%, underperforming the broader healthcare sector (XLV closed modestly lower), as Citigroup downgraded the stock to Neutral from Buy and slashed its price target to $235 from $270, citing concerns around GLP-1 therapy headwinds, potential pricing pressure, and the $490M MatrixCare divestiture. The selloff was compounded by a risk-off session driven by renewed U.S.-Iran military tensions that sent oil prices surging and weighed on equities broadly, while rising short interest — up ~17% in June to 10.48% of the float — signals growing bearish conviction ahead of Q2 earnings.

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July 11, 2026ResMed fell after Jefferies lowered its price target to $225 from $240 (maintaining Hold), compounding pressure from the prior session's 6.3% drop tied to the company's announced divestiture of its MatrixCare business to private equity firm Frazier Healthcare Partners. While the sale is designed to sharpen ResMed's focus on its core sleep, breathing, and connected home-care strategy, investors appear cautious ahead of Q4 2026 earnings, with the stock rebounding modestly in after-hours trade. The healthcare sector ETF (XLV) also closed lower on the day.

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July 10, 2026ResMed edged higher, outperforming the broader healthcare sector (XLV) and S&P 500, as investors continued to digest the company's strategic portfolio reset. ResMed announced the $490 million cash sale of its MatrixCare software unit to Frazier Healthcare Partners, a move analysts at William Blair view as divesting an underperforming asset that had weighed on growth durability concerns—even if near-term EPS dilution is expected. With Q4 FY2026 results scheduled for August 6 and a median analyst price target of $268, the stock remains well below consensus estimates, keeping value-focused investors engaged.

1.268

July 9, 2026ResMed tumbled after announcing the $490M all-cash sale of its MatrixCare software business to Frazier Healthcare Partners — a deal analysts flagged as cheap, at roughly 8.4x EBITDA versus the ~25x multiple paid at acquisition in 2018. RBC Capital maintained its Outperform rating but slashed its price target from $321 to $276, citing concerns the low exit multiple raises questions about AI disruption risk to ResMed's broader software business. The selloff was compounded by a macro risk-off session as President Trump declared the U.S.-Iran ceasefire 'over,' sending oil surging 5%+ and pressuring equities broadly.

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DOTmed · July 17, 2026Resmed to sell MatrixCare business to PE firm Frazier Healthcare PartnersTIKR.com · July 17, 2026Is ResMed Stock a Buy After the Noctrix Acquisition?marketscreener.com · July 17, 2026RBC Downgrades ResMed to Sector Perform From Outperform, Cuts Price Target to $234 From $276MassDevice · July 16, 2026FDA issues early alert for certain Resmed Astral ventilatorsMedTech Dive · July 8, 2026Resmed to sell MatrixCare for $490M to private equity firmInvesting.com · April 27, 2026Morgan Stanley cuts ResMed stock price target on market competition
Mt Newswire · July 17, 2026RBC Downgrades ResMed to Sector Perform From Outperform, Cuts Price Target to $234 From $276
Benzinga · July 15, 2026Mizuho Maintains Outperform on ResMed, Lowers Price Target to $220
Mt Newswire · July 15, 2026Mizuho Adjusts Price Target on ResMed to $220 From $235, Maintains Outperform Rating
Mt Newswire · July 14, 2026Baird Adjusts ResMed Price Target to $217 From $225, Maintains Neutral Rating
Benzinga · July 13, 2026Citigroup Downgrades ResMed to Neutral, Lowers Price Target to $235
Mt Newswire · July 13, 2026Citigroup Downgrades ResMed to Neutral From Buy, Adjusts Price Target to $235 From $270
Benzinga · July 10, 2026Jefferies Maintains Hold on ResMed, Lowers Price Target to $225
Mt Newswire · July 10, 2026Jefferies Adjusts Price Target on ResMed to $225 From $240

Peers

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